APRIL 02, 2024 — TUESDAY AM
MARKET OUTLOOK: Please join me for our next Monthly Market Outlook on Tuesday, April 02, 2024 at 4pm CT. We discuss the futures markets and provide actionable trade ideas for stocks, futures, and crypto for the month of April and for Q2. This is a FREE event, and everyone is invited. Please use the following ZOOM link to join the meeting: https://us06web.zoom.us/j/89719165331?pwd=Bfx2zOAgJPOBk8FuJaUUgVEKnPIaaB.1
The ES, NQ, and YM are seeing heavy selling pressure ahead of the RTH open and are now trading below wLO. Rejections below wLO could lead to bear trap scenarios, but avoid fading unless a strong rejection occurs. The ES and NQ have developed narrow trading ranges over the last 7 sessions, and a failed downside break could provide a highly bullish trap and reverse opportunity. Failure at the monthly midpoint, however, could trigger additional selling pressure ahead. Crude Oil continues to put in fresh highs for the year, and the same goes for Gold. Any pullback in these markets could provide a buying opportunity for new highs ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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